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Thursday, January 5, 2017

Operationalisation of Karvy computershare Private Limited as second central Recordkeeping Agency (CRA) for NPS Regular/NPA Lite/APY

Operationalisation of Karvy computershare Private Limited as second central Recordkeeping Agency (CRA) for NPS Regular/NPA Lite/APY


PENSION FUND REGULATORY 
AND DEVELOPMENT AUTHORITY
B-14/A, chhatrapati Shivaji Bhawan
Qutab Institutional Area,
Katwaria Sarai, New Delhi - 110 016
Ph: 011-26517501
Fax: 011-26517507
Website: www.pfrda.org.in

Circular

PFRDA/2017/1/CRA/1

Date: January 03,2017

Sub: Operationalisation of Karvy computershare Private Limited as second central Recordkeeping Agency (CRA) for NPS Regular/NPA Lite/APY

Please refer to the notice dated June 24, 2016 issued by PFRDA on the selection of Karvy Computershare private Limited as second central Recordkeeping Agency (CRA) for NPS.

Karvy Computershare Private Limited is currently at an advanced stage of CRA system development and is expected to become operational in the near future.

with operationalisation by Karvy, there will be two CRAs operating in the NPS system under PFRDA (Central Recordkeeping Agency) Regulations, 2015 i.e. NSDL e-governance infrastructure Ltd and Karvy computershare Pvt Ltd.

As per the applicable CRA regulations, the choice of CRA can be made by the employer (existing or prospective) between the existing CRA and the new CRA depending on the policy of the employer in case where there is employer-employer relationship) the option to choose a CRA rests with the subscribers. In case of Government sector subscribers and subscribers registered under Atal Pension Yojana, the respective Government will choose the CRA for rendering the services. In case of NPS-Life subscribers the aggregator will have the aggregator will have the option to choose the CRA.

The Charge structure of Karvy-CRA for NPS regular and NPS Lite subscribers as accepted by PFRDA is as under:-

S.No
Service Charge head
NPS Regular
NPS Lite/APY
1
PRA opening charges
39.36
15.00
2
PRA Annual maintenance charges
57.63
14.40
3
Transaction charges
3.36
-

This is issued for the information of all concerned.

(Venkateswarlu Peri)
Chief General Manager


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